Eminence Capital LP Has $182.71 Million Stock Position in PG&E Co. (NYSE:PCG)

Eminence Capital LP boosted its position in PG&E Co. (NYSE:PCG) by 38.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,971,802 shares of the utilities provider’s stock after acquiring an additional 2,229,983 shares during the quarter. PG&E accounts for 2.4% of Eminence Capital LP’s holdings, making the stock its 16th largest holding. Eminence Capital LP owned 1.51% of PG&E worth $182,714,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Aperio Group LLC bought a new position in PG&E in the second quarter valued at approximately $35,000. Sageworth Trust Co purchased a new position in shares of PG&E in the 2nd quarter valued at about $42,000. Penserra Capital Management LLC purchased a new position in shares of PG&E in the 1st quarter valued at about $42,000. NEXT Financial Group Inc purchased a new position in shares of PG&E in the 2nd quarter valued at about $43,000. Finally, Liberty Wealth Management LLC boosted its stake in shares of PG&E by 836.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,022 shares of the utilities provider’s stock valued at $46,000 after buying an additional 1,806 shares during the period. 90.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PCG traded up $0.26 during midday trading on Thursday, hitting $12.01. The stock had a trading volume of 2,224,572 shares, compared to its average volume of 7,970,283. The company’s 50-day moving average price is $13.45 and its 200-day moving average price is $18.18. The company has a market capitalization of $5.83 billion, a P/E ratio of 3.00, a price-to-earnings-growth ratio of 1.26 and a beta of 0.42. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.20. PG&E Co. has a fifty-two week low of $5.07 and a fifty-two week high of $49.42.

PG&E (NYSE:PCG) last issued its earnings results on Friday, August 9th. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.99 by $0.11. PG&E had a negative net margin of 53.07% and a positive return on equity of 15.16%. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company earned $1.16 EPS. Research analysts expect that PG&E Co. will post 3.88 EPS for the current fiscal year.

Several brokerages have recently issued reports on PCG. Evercore ISI set a $25.00 price objective on PG&E and gave the company a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research upgraded PG&E from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research note on Tuesday, July 23rd. Morgan Stanley set a $23.00 target price on PG&E and gave the stock a “hold” rating in a research note on Monday, August 26th. Wolfe Research cut PG&E from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 28th. Finally, Citigroup upgraded PG&E from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $4.00 to $12.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. PG&E currently has an average rating of “Hold” and an average target price of $18.20.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

Further Reading: Quiet Period

Want to see what other hedge funds are holding PCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PG&E Co. (NYSE:PCG).

Institutional Ownership by Quarter for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.